Fundraising Problems Hit Hudson Clean Energy Partners

New Jersey-based private equity firm Hudson Clean Energy Partners halted fundraising for its second fund, which originally targeted $1.5 billion, and began scaling back its team, according to VentureWire.

The firm, which raised $1.02 billion for its first fund in 2009, is managed by Neil Auerbach, a former Goldman Sachs partner, and John Cavalier, the former Vice Chairman of Credit Suisse’s Investment Banking division. The latest press release listed on Hudson’s website, dated July 18, 2011, named Zhongmin Shen as a partner overseeing its China operations. And, according to its website, its one investment in China, made in 2012, is Beijing-based GSE Investment Corporation, an operator of waste-to-energy and wastewater treatment projects.

This news quickly follows last week’s announcement by cleantech venture capital firm, VantagePoint Capital Partners, which halted its fundraising activities for its latest fund due to a lack of interest by potential limited partners. The firm had a goal of $1.25 billion for the fund, dubbed Cleantech Partners III LP, which it started pitching in 2010. It targeted investments in batteries, solar manufacturing, electric vehicles, efficient lighting, electric-grid efficiency and other technologies.